OPTIQUE ET METHODE : revenue, balance sheet and financial ratios

In 2024, OPTIQUE ET METHODE achieves revenue of 1.5 M€. Revenue is growing positively over 9 years (CAGR: +1.2%). Slight decline of -4% vs 2023. After deducting consumption (548 k€), gross margin stands at 983 k€, i.e. a rate of 64%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 9 k€, representing 0.6% of revenue. Warning negative scissor effect: despite revenue change (-4%), EBITDA varies by -95%, reducing margin by 10.8 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 8 k€, i.e. 0.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 44%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 53%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 78.2 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 0.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 183.24. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months. The interest coverage ratio (= EBIT / Interest expenses) is 210.5x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 17 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 127 days. Excellent situation: suppliers finance 110 days of the operating cycle (retail model). Inventory turnover is 43 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 161 days of revenue, i.e. 686 k€ to permanently finance. Over 2016-2024, WCR increased by +109%, requiring additional financing.

Based on 117 transactions of similar company sales in 2024, the value of OPTIQUE ET METHODE is estimated at 264 213 € (range 151 602€ - 406 040€). With an EBITDA of 8 625€, the sector multiple of 4.0x is applied. The price/revenue ratio is 0.53x (in line with sector norms). This multiples method compares the actual sale price of similar companies to their financial indicators (Revenue, EBITDA, Net Income). It provides a market-based indicative estimate.